Munich Re to invest €16m in advanced R&D programme
Munich Re Automation Solutions plans to carry out a €16 million R&D programme in Ireland, adding 60 highly-skilled new roles over the next two years.
The company is investing in Horizons, an innovative research & development programme evolving the business from a product to a platform company.
As part of the investment, which is supported by the Irish government through IDA Ireland, Munich Re will recruit a large new team of skilled people, to complement its existing team in Dublin and accelerate the development of new cloud products/services.
The announcement builds upon Munich Re’s many years of successful operations in Ireland. Since its acquisition by Munich Re in 2007, the Irish subsidiary has grown to become one of the most successful providers of automated life insurance solutions globally and enjoys the highest levels of customer satisfaction in the market.
Today, most of the world’s best-known life insurers use its digital underwriting suite of products, ALLFINANZ, to ensure underwriting consistency, improve the customer journey and accelerate the life insurance application process. Horizons’ cloud-native digital platform and business process optimisation will enable the company to scale from 100s to 1,000s of customers and make Munich Re Automation Solutions the natural choice technology partner for life insurers worldwide.
“This is extremely positive news from the financial services industry in Ireland. Munich Re is an organisation that we have worked with since 2012 and we are delighted that, off the back of an already successful InsurTech operation in the country, Munich Re has decided to carry out this exciting R&D programme here, underpinning 60 high value roles,” said IDA Ireland CEO Martin Shanahan.
“It demonstrates a huge vote of confidence in Ireland, our skilled workforce and the collaborative nature and strong commercial focus of our Irish universities. I wish Munich Re continued success with their Irish operations and assure them of IDA Ireland’s ongoing support.”
“This is an ideal time to join our team, as we map our technology to our long-term business plan” said Ross Mayne, CEO at Munich Re Automation Solutions. “The re-imagined business has never been more relevant to our growing base of customers globally, and the way we are executing shows the winning mentality, expanding commitment to our customers, and strong culture of Munich Re.”
For additional information visit: www.munichre.com/automation-solutions/
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